Profit rose to $103.62 billion from $75.34 billion a year ago for CIC, a shareholder in China’s largest banks such as China Development Bank Corp [CNDBKH.UL] as well as Industrial and Commercial Bank of China Ltd (601398.SS)(1398.HK).

CIC’s total investment income was $114.46 billion, versus $83.03 billion in 2016, its 2017 report showed on Monday.

It reported a 17.59 percent net return on its overseas investments, an all-time high, versus 6.22 percent in 2016.

CIC [CIC.UL] invests overseas through two units, CIC International Co and direct investment vehicle CIC Capital Corp. The latter, in 2017, made 20 overseas investment decisions with a total committed investment figure of $3.8 billion.

The wealth fund hopes to invest more in U.S. markets, CIC President Tu Guangshao said at a press conference in Beijing, adding that concerns about any impact on the fund’s investment plans from mounting trade tensions between the countries was “totally unnecessary”.

Headquartered in Beijing, CIC was founded in 2007 to help China earn a higher return on its foreign exchange reserves.

In the past, CIC has invested in several overseas companies ranging from online property rental firm Airbnb, Canadian mining company Teck Resources (TECKb.TO) to U.S. private equity house Blackstone (BX.N).

CIC, however, sold its equity holding in Blackstone in March, exiting from an 11-year old investment.